White Americans’ Hold on Wealth Is Old, Deep, and Nearly Unshakeable

[NewsVine_Mariyam]

The following is the essence of the article. I had never heard the term 'Jim Crow Credit' before:

“First, you legally segregate, and then you let the market do it for you”

So just to run back the score: Southern slaveholding families were able to recuperate post-Civil War wealth losses within one generation, and by 1940 even those families’ grandchildren were doing better than their Southern peers. Also by 1940, low-income and working-class white families are ushered into wealth via federally backed housing and farming loans and derivative lines of credit. In that same time, freed African Americans are mostly robbed of what little bit of land they were able to possess after the Civil War, and passed over for the mortgage loans and credit lines awarded to white families.

In order to create, lose, and then re-create wealth—and then create new forms of wealth for other low-income white families—white families leveraged social networks and credit. This is the community context that the McKinsey report identifies as one of the crucial components needed for families to build wealth. Most African Americans were never able to develop this, and in the few areas where they did accumulate community-level wealth, it was taken from them. And they were unable to recover it due to racist residential and spatial settings.


The Amazing Resiliency of White Wealth - CityLab​

 

[harmonica]

..blacks were far behind the whites long before slavery--long before the whites went into Africa--so you can't prove whitey ''keeps the blacks down'''
..blacks graduate at lower rates
...college grads earn more $$$$
College grads earn $30,000 a year more than people with just a high school degree - CNN
simple

 

[irosie91]

oh goody------based on my skin -------I AM RICH because of my extensive
"SOCIAL NETWORKS"---well----actually----during a time of family
stress----my white as snow big brother (at that time a teen) could not
even get a job as a caddy in the local "country club". ------speaking of credit
credibilitiy-------I have never checked my own credit score------does the report
come with a comment on the hue of my skin? I WONDER if there are other
factors in "wealth" recovery or accrual other than ---DERMO-HUE

 

[harmonica]

so a black says whites are evil---I'm SHOCKED
black says whites are evil = bullshit

 

[harmonica]

it's the black culture that keeps blacks down--a cycle
they are having kids when they are not financially ready = cycle of failure

 

[irosie91]

..blacks were far behind the whites long before slavery--long before the whites went into Africa--so you can't prove whitey ''keeps the blacks down'''
..blacks graduate at lower rates
...college grads earn more $$$$
College grads earn $30,000 a year more than people with just a high school degree - CNN
simple

there are several anthropological works-----mostly elaborated or popularized
during the 1960s that you have not INTERNALIZED

 

[harmonica]

........you--- seriously --link an article by a black man who says ''white'' this and ''white'' that and expect people with brains to believe this shit????!!!
hahahahahahahah

 

[harmonica]

..blacks were far behind the whites long before slavery--long before the whites went into Africa--so you can't prove whitey ''keeps the blacks down'''
..blacks graduate at lower rates
...college grads earn more $$$$
College grads earn $30,000 a year more than people with just a high school degree - CNN
simple

there are several anthropological works-----mostly elaborated or popularized
during the 1960s that you have not INTERNALIZED

what?

 

[harmonica]

......my brother works for a loan company and he says they go out of their way to give blacks loans

 

[TroglocratsRdumb]

The following is the essence of the article. I had never heard the term 'Jim Crow Credit' before:

“First, you legally segregate, and then you let the market do it for you”

So just to run back the score: Southern slaveholding families were able to recuperate post-Civil War wealth losses within one generation, and by 1940 even those families’ grandchildren were doing better than their Southern peers. Also by 1940, low-income and working-class white families are ushered into wealth via federally backed housing and farming loans and derivative lines of credit. In that same time, freed African Americans are mostly robbed of what little bit of land they were able to possess after the Civil War, and passed over for the mortgage loans and credit lines awarded to white families.

In order to create, lose, and then re-create wealth—and then create new forms of wealth for other low-income white families—white families leveraged social networks and credit. This is the community context that the McKinsey report identifies as one of the crucial components needed for families to build wealth. Most African Americans were never able to develop this, and in the few areas where they did accumulate community-level wealth, it was taken from them. And they were unable to recover it due to racist residential and spatial settings.


The Amazing Resiliency of White Wealth - CityLab​

Left Wing racism and bigotry Is Old, Deep, and Nearly Unshakeable

 

[harmonica]

even though they graduate at lower levels, they are over represented in great jobs
..I've linked this many times
especially in USPS/sports/entertainment/auto manufacturing/etc

 

[irosie91]

I have a NEED TO KNOW---------why are we NOT using the designation
"person of color" ----which includes almost EVERYONE ---in the
NEO-ANTHROPOLOGY studies

 

[harmonica]

I have a NEED TO KNOW---------why are we NOT using the designation
"person of color" ----which includes almost EVERYONE ---in the
NEO-ANTHROPOLOGY studies

POC is one of the dumbest terms I've ever heard
African American is another

 

[irosie91]

I have another NEED TO KNOW--------of the people of the USA-----how many are
today THE INDESTRUCTABLY wealthy descendants of southern slave holding
families?

 

[irosie91]

I have a NEED TO KNOW---------why are we NOT using the designation
"person of color" ----which includes almost EVERYONE ---in the
NEO-ANTHROPOLOGY studies

POC is one of the dumbest terms I've ever heard
African American is another

they are RELATED CONSTRUCTS----------Afro-american got wore-out AND
lots of "others" decided to JOIN. My all time fave explanation comes from
a famous P O C to wit LINDA SARSOUR. a white completected----person
of yet another artificial construct-----to wit "arab" which simply means a person
descended from people who started speaking Arabic a few hundred years ago----
Our Linda (a name of Spanish extraction) stated that until she came up with the
brilliant DEVICE of wrapping her head in a colorful cloth-----she was simply
a "white girl from Brooklyn" -----THEN after the head decoration was in place
she got promoted to A PERSON OF COLOR

 

[mudwhistle]

The following is the essence of the article. I had never heard the term 'Jim Crow Credit' before:

“First, you legally segregate, and then you let the market do it for you”

So just to run back the score: Southern slaveholding families were able to recuperate post-Civil War wealth losses within one generation, and by 1940 even those families’ grandchildren were doing better than their Southern peers. Also by 1940, low-income and working-class white families are ushered into wealth via federally backed housing and farming loans and derivative lines of credit. In that same time, freed African Americans are mostly robbed of what little bit of land they were able to possess after the Civil War, and passed over for the mortgage loans and credit lines awarded to white families.

In order to create, lose, and then re-create wealth—and then create new forms of wealth for other low-income white families—white families leveraged social networks and credit. This is the community context that the McKinsey report identifies as one of the crucial components needed for families to build wealth. Most African Americans were never able to develop this, and in the few areas where they did accumulate community-level wealth, it was taken from them. And they were unable to recover it due to racist residential and spatial settings.


The Amazing Resiliency of White Wealth - CityLab​

Yeah....so blacks should petition the government to take WHITE PEOPLE'S wealth.
This is why Socialism is a thing in the Democrat party......it's social justice for black people.....that would rather collect welfare than work for a living.

Yup....every white person is rich......and every black person is poor.....and this will never change unless the socialists in Congress step in and take our guns.

The trade-off is Planned-Parenthood gets all of the black fetuses they want to do experiments and sell for cooking ingredients in Satanist's potions.

 

[Billy_Kinetta]

I have a NEED TO KNOW---------why are we NOT using the designation
"person of color" ----which includes almost EVERYONE ---in the
NEO-ANTHROPOLOGY studies

POC is one of the dumbest terms I've ever heard
African American is another

Yeah, I've never gotten the supposed difference between "people of color" and "colored people".

Hyphenated designations are equally stupid. I have an Irish heritage, but bloodlines determine nothing. I have no working connection with Ireland whatsoever.

I'm not Irish-American, but American.

 

[TNHarley]

I'm white. Where is my wealth?
That 2 percent Asian in my DNA must be my problem

 

[Third Party]

The following is the essence of the article. I had never heard the term 'Jim Crow Credit' before:

“First, you legally segregate, and then you let the market do it for you”

So just to run back the score: Southern slaveholding families were able to recuperate post-Civil War wealth losses within one generation, and by 1940 even those families’ grandchildren were doing better than their Southern peers. Also by 1940, low-income and working-class white families are ushered into wealth via federally backed housing and farming loans and derivative lines of credit. In that same time, freed African Americans are mostly robbed of what little bit of land they were able to possess after the Civil War, and passed over for the mortgage loans and credit lines awarded to white families.

In order to create, lose, and then re-create wealth—and then create new forms of wealth for other low-income white families—white families leveraged social networks and credit. This is the community context that the McKinsey report identifies as one of the crucial components needed for families to build wealth. Most African Americans were never able to develop this, and in the few areas where they did accumulate community-level wealth, it was taken from them. And they were unable to recover it due to racist residential and spatial settings.


The Amazing Resiliency of White Wealth - CityLab​

How did the loan payback rate of blacks compare with whites, then and now? Could that be a reason?

 

[irosie91]

I have a NEED TO KNOW---------why are we NOT using the designation
"person of color" ----which includes almost EVERYONE ---in the
NEO-ANTHROPOLOGY studies

POC is one of the dumbest terms I've ever heard
African American is another

Yeah, I've never gotten the supposed difference between "people of color" and "colored people".

Hyphenated designations are equally stupid. I have an Irish heritage, but bloodlines determine nothing. I have no working connection with Ireland whatsoever.

I'm not Irish-American, but American.

"people of color" is NOT 'colored people' Colored-people are what anthropologists used to call "NEGRO" They are supposed to have dark
brown skin (NOT LITE BROWN SKIN) ----and specific hair which under a
microscope is in cross-section---eliptical rather than round
Chinese hair sections are the most nearly circular in shape; the Negroid
sections are the most flattened; and the Western European and Asiatic
Indian hair sections are intermediate in shape. ------more lately--skin hue
has been discarded as a marker as has hair shape. NOW a person of color
is a person that is a member of what ever cohort the elite leaders have decided
are OPPRESSED. The elite leaders include persons such as SOROS----and
Linda Sarsour-------skin and hair notwithstanding, Irish persons DID at one
time qualify as "persons of color" ------(green) as opposed to ORANGE MEN.
But-----sorry---YOU IS OUT OF THE LOOP and the potato crop is doing fine.
Present day "Palestinians" are persons of color but jews are not whether
American or Israeli